XRP Price Prediction – Analyst Predicts That XRP Will Double In Price in the Coming Weeks – August 24th, 2020

Ripple gets the first bank from Oman on its RippleNet platform
  • Ripple XRP is Currently Trading In the $0.1280 to $0.1288 Range
  • Breaking the Psychological Support at $0.3000 Might Help the Price of XRP Double Near-term 

XRP Price Prediction – Last year, analysts established that the XRP token had the list correlation to Bitcoin when compared to Ethereum and the other altcoins. This is because when the price of Bitcoin increased or decreased, it carried the entire market along. The price of XRP recorded the lowest change relative to Bitcoin and other tokens. For the last few weeks, however, the XRP token has been following the price action of Bitcoin BTC. As the price of Bitcoin BTC retraced, so did XRP and it is now stuck in the $0.2800 to $0.2880 range.

XRP Price Prediction 2020 – XRP Price Might Still Double Despite Current Price

At the time of writing, the price of Ripple XRP was $0.288502. This means that it is up by 1.81% against the USD and up by 0.73% against Bitcoin BTC. The trading volume over a 24 hour period was $1,353,612,910 and the market capitalization was $12,966,016,758. There is a strong chance that the token will double right after it breaks the psychological support at $0.3000. The token opened the trading day up by over 1%. It has hovered above the $0.1280 level for the rest of the day.

Yesterday, an analyst from Blockfyre had this to say about XRP;

“$XRP Still consolidating around this ever so important S/R that dates back 3 years. Ultimately expecting this to move up over the next few months at its own pace. Eyes on .475 in the coming weeks. You despise money if you don’t own XRP. The maximum point of financial opportunity is right at these levels. Reclaimed the area where the 17′ bull run had kicked off after a deviation below a year-long support range. A massive bull flag. Think Midterm (2-3 months) .93c.”

XRP Price Prediction – Ripple XRP Price Prediction 2020

If XRP doubles from its current price, it will reach the $0.54 level and the analyst believes that this isn’t where the surge will stop. The parabolic bull run and it might move as high as $1 mid-term. He isn’t the only analyst that sees XRP surging significantly soon. For more, XRP needs to work on moving above the all-important resistance at $0.3000 before it can start moving higher and breaching resistances that will allow it to double in price.

Right now, Bitcoin BTC is trading in green but it hasn’t been able to retest the $12k level it did a few weeks ago. The token is now trading at $11,753.22. This means that it is up by 0.80% against the USD with a trading volume of $20,432,707,744 and the market capitalization was $217,079,847,527. Watch out for the price action of Bitcoin.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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